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flag SAP reports significant revenue and cloud backlog growth, but shares dip amid trade uncertainties.

flag SAP, Europe's most valuable firm, reported a 9% rise in revenue and a 22% increase in cloud backlog, despite concerns over US trade slowdowns due to tariff tensions. flag The company's CFO, Dominik Asam, sees the recent US-Japan trade deal as providing some hope but notes that macro uncertainty and a strong euro against the US dollar are impacting earnings. flag SAP's shares opened lower following the results.

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